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  #15661  
Old Posted Sep 13, 2019, 11:52 PM
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^That's what she said!
Lmfaoooooooo
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  #15662  
Old Posted Sep 14, 2019, 1:36 AM
AlpacaObsessor AlpacaObsessor is offline
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"Avenir" rising in the distance


Lake Street Canyon


West End on Fulton


West End on Fulton from inside The Mason
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  #15663  
Old Posted Sep 14, 2019, 3:08 AM
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56 W Huron

Actually the lot next door - being deceptively shown as a park - at least until all the condos are sold.



A dog Park


A private Dog Park
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  #15664  
Old Posted Sep 14, 2019, 10:17 AM
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129 N Wabash

Sept 6

Can somebody remind me what is slated for this site ?
Chicago | 129 N Wabash by Harry Carmichael, on Flickr
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  #15665  
Old Posted Sep 14, 2019, 10:34 AM
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Originally Posted by harryc View Post
Sept 6

Can somebody remind me what is slated for this site ?
Chicago | 129 N Wabash by Harry Carmichael, on Flickr
https://www.buzzbuzzhome.com/us/50-e-randolph-street
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  #15666  
Old Posted Sep 14, 2019, 12:05 PM
RedCorsair87 RedCorsair87 is offline
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^Goddamn that underwhelming proposal. This would have been a great spot for another Legacy-like tower.
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  #15667  
Old Posted Sep 14, 2019, 12:49 PM
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^ It doesn’t deserve its construction permits. Weak attempt at good architecture.
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  #15668  
Old Posted Sep 14, 2019, 3:23 PM
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Floors 18 to 22 of 208 S LaSalle is becoming a luxury boutique hotel - permits were issued 2 days for it for a $40M renovation (. According to the Crain's article last June, it will become a 234 hotel called "The Reserve"

The same building has the JW Marriott, but this will be a separate hotel.

https://www.chicagobusiness.com/arti...r-luxury-hotel
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  #15669  
Old Posted Sep 14, 2019, 6:39 PM
SamInTheLoop SamInTheLoop is offline
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^ Finally this project is moving forward. Been waiting. Proposed at least 5 years ago, back then as a Canopy by Hilton, not sure why the flag change in reality.....around a $100 mil project all-in it would seem, per article linked-to below, from more than a year ago.

https://www.chicagobusiness.com/arti...r-luxury-hotel

Also on the hotel front, one to watch out for movement soon would be 330 N Clark....in addition to watching for any progress at long last at LSE Parcel O.
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  #15670  
Old Posted Sep 14, 2019, 6:42 PM
SamInTheLoop SamInTheLoop is offline
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^ It doesn’t deserve its construction permits.
Reagan disagrees.
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  #15671  
Old Posted Sep 14, 2019, 9:27 PM
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^Hurts so good
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  #15672  
Old Posted Sep 14, 2019, 9:50 PM
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https://chicago.curbed.com/2019/9/13...n-office-tower

Looks like someone saw my comment (probably not lol) and made an edit. They've confirmed this building isn't going to be super "green", just a LEED certified office.
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  #15673  
Old Posted Sep 15, 2019, 12:24 AM
SamInTheLoop SamInTheLoop is offline
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^ This one is so banal. Fulton Market is a real mixed bag, new design-wise. For every 800 W Fulton, there are 1 or 2 320 N Sangamons.
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  #15674  
Old Posted Sep 15, 2019, 4:04 AM
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^ This one is so banal. Fulton Market is a real mixed bag, new design-wise. For every 800 W Fulton, there are 1 or 2 320 N Sangamons.
Agreed... its one good trait is now gone
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  #15675  
Old Posted Sep 15, 2019, 2:33 PM
LouisVanDerWright LouisVanDerWright is offline
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Originally Posted by RedCorsair87 View Post
^Goddamn that underwhelming proposal. This would have been a great spot for another Legacy-like tower.
Yeah, but then he would have to have done a PD and then they would be stuck doing some obscene amount of affordable units. They could have done a legacy, if they wouldn't have been forced to sacrifice 20%+ of the units as affordable. Again, there is a real trend of people avoiding zoning changes since the ARO increase.
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  #15676  
Old Posted Sep 15, 2019, 2:37 PM
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Plus, how would that work with condos?

Mandating affordable condos is far more complex. Would buyers of those qualify for loans? Could they afford the HOA fees?
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  #15677  
Old Posted Sep 15, 2019, 4:54 PM
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Originally Posted by LouisVanDerWright View Post
Yeah, but then he would have to have done a PD and then they would be stuck doing some obscene amount of affordable units. They could have done a legacy, if they wouldn't have been forced to sacrifice 20%+ of the units as affordable. Again, there is a real trend of people avoiding zoning changes since the ARO increase.
That's exactly why the city needs to incentivize developers through tax breaks on financing and prop taxes for the first couple years so that they can get the affordable units built and allow for large towers without an obscene amount of aro units too. NYC does it through a program called 80/20
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  #15678  
Old Posted Sep 15, 2019, 5:09 PM
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That's exactly why the city needs to incentivize developers through tax breaks on financing and prop taxes for the first couple years so that they can get the affordable units built and allow for large towers without an obscene amount of aro units too. NYC does it through a program called 80/20
The idea of doing much the way NYC does it fills me with dread. I'd reduce the ARO requirement and up zone like crazy including waving the PD requirements for hight/unit count near transit. The best way to keep things affordable is to make it easy to build.
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  #15679  
Old Posted Sep 15, 2019, 8:27 PM
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Plus, how would that work with condos?

Mandating affordable condos is far more complex. Would buyers of those qualify for loans? Could they afford the HOA fees?
You can definitely sell affordable condos - I helped sell several in the Cabrini area. You get the sales price by working backwards from AMI and a mortgage rate assumption. Affordable buyers pay the full amount of HOA, so that means the sales price has to go down a little further so that their mortgage + HOA don’t exceed 30% of income.

Yes, there’s a fair bit of math involved, but it’s not rocket science if you’re used to putting together pro formas. IIRC the project affordability agreement with the city specifies the affordability level (50% AMI, 80% AMI, etc) and that level effectively sets a floor on how low the sales price can go for each unit, so you can use that low-end sales price to determine whether the overall project will pencil.
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  #15680  
Old Posted Sep 15, 2019, 10:20 PM
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Bush Temple of Music - 810 N Clark

Sept 4

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